SINOIF launched market making for CNH futures in HKEX
SHANGHAI, Jan. 22, 2020 /PRNewswire/ -- West Coast Ltd., a subsidiary of SINOIF, has been qualified as market maker for CNH Futures (USD / CNH) in Hong Kong stock exchange, and has been undertaking the responsibilities and obligations as market maker beginning January 22, 2020.
HKEX launched the USD/CNH futures in September 2012, the world's first deliverable RMB currency futures product to be quoted, margined, and settled in RMB, to provide greater capital efficiency and flexibility for managing exposure to the expanding offshore RMB market. It is an important institutional management to introduce the market maker system for developing, sustaining and exploiting of the market. Strength and credibility are essential for a market maker.
SINOIF will seize the opportunity brought by the qualification, and the advantages in technology, capital and talents of SINOIF will be a great help to energize the market of CNH futures.